Common use of Acknowledgement of Assignment Clause in Contracts

Acknowledgement of Assignment. In the event this Guaranty is assigned to a bank or other lending institution, the GUARANTOR shall furnish to such entity a letter stating that the GUARANTOR acknowledges receipt of notice of an assignment by PIMSA of said Guaranty; that said Guaranty is in full force and effect; that no changes to the Guaranty as originally executed have been made; that the GUARANTOR will not enter into any modification of this Guaranty without first obtaining prior written approval thereof from said lender; that said lender may rely solely upon the Guaranty with respect to the lender's right to receive the rents in accordance with the terms of the Lease Agreement; and that all payments made thereafter shall be made to the lender or its assigns at such times not in conflict with those permissible under the Lease Agreement, at such places and/or in United States Dollars as directed by the lender or its assigns.

Acknowledgement of Assignment. In the event this Guaranty is assigned to a bank or other lending institution, the GUARANTOR shall furnish to such entity a letter stating that the GUARANTOR acknowledges receipt of notice of an assignment by PIMSA of said Guaranty; that said Guaranty is in full force and effect; that no changes to the Guaranty as originally executed have been made; that the GUARANTOR will not enter into any modification of this Guaranty without first obtaining prior written approval thereof from said lender; that said lender may rely solely upon the Guaranty with respect to the lender's ’s right to receive the rents in accordance with the terms of the Lease Agreement; and that all payments made thereafter shall be made to the lender or its assigns at such times not in conflict with those permissible under the Lease Agreement, at such places within the United States of America or United States of Mexico and/or in United States Dollars as directed by the lender or its assigns.